Welcome to our dedicated page for Aaon news (Ticker: AAON), a resource for investors and traders seeking the latest updates and insights on Aaon stock.
AAON, Inc. (NASDAQ: AAON) is a manufacturing company focused on high-performance, energy-efficient HVAC solutions for commercial, industrial and data center indoor environments. Founded in 1988 and headquartered in Tulsa, Oklahoma, the company communicates regularly with investors and customers through news releases covering its operations, technology and capital decisions.
The AAON news feed features updates on quarterly financial results, including segment performance for AAON Oklahoma, AAON Coil Products and BASX, as well as information on bookings, backlog and margins. These releases often discuss demand trends for AAON- and BASX-branded equipment, with particular emphasis on data center applications and national account activity.
Visitors can also expect corporate and governance news, such as leadership appointments and promotions, including roles overseeing the AAON business unit and operations across multiple U.S. manufacturing facilities. Announcements about participation in investor conferences and related presentations are disclosed, providing additional context on the company’s strategy and outlook.
Another recurring topic in AAON news is capital allocation and financing. The company issues press releases on regular quarterly cash dividends authorized by its Board of Directors, as well as updates on its revolving credit facility and the exercise of an accordion feature to increase borrowing capacity. These items illustrate how AAON funds growth initiatives and returns capital to shareholders.
Product and technology developments also appear in the news stream, including information on AAON’s Alpha Class air-source heat pumps and participation in the U.S. Department of Energy’s Commercial Building HVAC Technology Challenge. For investors and industry followers, the AAON news page offers a centralized view of financial performance, operational updates, leadership changes and HVAC technology milestones.
AAON, Inc. recently hosted students from local high schools in Tulsa, Oklahoma, to celebrate MFG Day 2021. This initiative aims to promote modern manufacturing and the career opportunities it offers.
The event forms part of a national celebration where manufacturers engage with students and communities, showcasing the industry's innovation and addressing skill gaps. Stephanie Regan, Corporate Citizenship Manager, expressed hopes that students would gain insight into diverse career paths available in their communities.
AAON, a prominent manufacturer of heating and cooling products, announced that its RZ Series Rooftop Unit has been recognized as the 2021 Commercial Comfort Product of the Year in the Rooftop Units category by a panel of independent engineers from Engineered Systems magazine. The RZ Series, designed for efficiency and customization, features variable-speed compressors and a range of premium options for various applications. CEO Gary Fields emphasized that this accolade reflects the dedication of AAON's employees and is a product of ongoing innovation at the Norman Asbjornson Innovation Center.
AAON reported strong second-quarter results for 2021, with net sales reaching $143.9 million, a 14.6% increase year-over-year, driven by robust replacement demand in the nonresidential sector. Gross profit was $42.1 million, up 10.4%, but gross profit margin decreased to 29.3%. Net income rose 15.8% to $20.6 million, translating to earnings per share of $0.38. The company ended the quarter with a backlog of $138.1 million, up 33.4% from the previous year. AAON maintains no debt, with cash reserves increasing to $112.1 million. The company is optimistic about sustained growth in the second half of 2021.
AAON, Inc. (NASDAQ: AAON) achieved Platinum level in the 2021 Sustainable Tulsa Scor3card verification program, maintaining its previous year's status. To secure Platinum, over 85% of eligible directives must be completed, focusing on areas like inclusion, diversity, and energy management. Notably, AAON increased recycling rates by 19% and reduced building energy usage intensity by 4% in 2020. The company emphasizes ESG in its business strategy, highlighting its commitment to sustainability and operational efficiency.
AAON, Inc. (NASDAQ: AAON) will hold a conference call on August 6, 2021, at 9:00 a.m. ET to discuss its second-quarter performance for the period ending June 30, 2021, along with recent events and future outlook. The earnings release will be issued after market close on August 5, 2021. Participants can attend the call by dialing 1-888-241-0551 with Pass Code 6788945. A rebroadcast will be available until August 13, 2021, at 1-855-859-2056. For more details, visit AAON's website.
AAON, a leading manufacturer of HVAC equipment, announced a 5% price increase on all products effective September 1, 2021, due to inflationary pressures. This adjustment reflects the company's ongoing commitment to maintaining product quality while addressing rising costs. Established in 1988, AAON specializes in a range of heating and cooling solutions, including rooftop units and geothermal heat pumps. For further details, visit www.AAON.com.
AAON announced its participation in the 14th Annual Wolfe Research Global Transportation & Industrials Conference, scheduled for May 26, 2021, at 9:10 a.m. EDT. President and CEO Gary Fields, along with CFO Rebecca Thompson, will represent the company. A live webcast of the event will be accessible via the provided link. Established in 1988, AAON specializes in the engineering, manufacturing, and marketing of a diverse range of heating and cooling equipment, including rooftop units, chillers, and geothermal heat pumps, committed to exceeding customer expectations.
AAON has declared a cash dividend of $0.19 per share, payable on July 1, 2021, to stockholders on record as of June 3, 2021, reflecting a $0.38 annual dividend.
Additionally, AAON announced the promotion of Christopher D. Eason to Chief Accounting Officer, effective May 11, 2021. Eason's background includes his previous role at Grant Thornton and extensive accounting experience.
AAON, INC. (NASDAQ-AAON) reported its Q1 2021 financial results, with a 15.8% decline in net sales to $115.8 million, down from $137.5 million in Q1 2020. Gross profit also fell by 22.8% to $33.2 million, while diluted EPS decreased 26.8% to $0.30. Despite challenges like fewer production days and adverse weather, the backlog grew to $96.7 million, and new bookings increased by 21% year-over-year. The company maintained a solid cash position of $97 million and anticipates improved revenue and earnings throughout 2021.
Scott M. Asbjornson has retired as Vice President, Finance and CFO of AAON, effective immediately. He served in this role since August 2012, contributing significantly to the company's growth. Rebecca A. Thompson has been appointed as his successor, having joined the company in 2012 as Chief Accounting Officer. Her promotion aligns with AAON's succession planning efforts. CEO Gary D. Fields praised both Scott's contributions and Rebecca's capabilities, highlighting her role in the company's successful business execution.